Morito Co., Ltd.
Notice Regarding the Recording of Extraordinary Loss Due to Goodwill Impairment
In the fiscal year ending November 2025, an extraordinary loss of 825,020 thousand yen for goodwill impairment was recorded for the U.S. subsidiary.
Key Figures
- Extraordinary Loss (Goodwill Impairment): 825,020 thousand yen
- Target Subsidiary: MORITO SCOVILL AMERICAS, LLC (U.S. Business Location)
- Fiscal Period: Fiscal Year Ending November 2025 (December 1, 2024 – November 30, 2025)
AI要約
Regarding the Recording of Goodwill Impairment Loss
Morito Co., Ltd. recorded an extraordinary loss of 825,020 thousand yen for goodwill impairment in the fiscal year ending November 2025 related to its consolidated subsidiary MORITO SCOVILL AMERICAS, LLC’s U.S. business operations. This was due to a careful review of recoverability considering the impact of reciprocal tariffs, rising raw material costs, and increasing uncertainty in U.S. consumer demand, resulting in a reduction of the book value to recoverable value.
Impact on Consolidated Results and Future Measures
This extraordinary loss is reflected in the financial summary for the fiscal year ending November 2025. In light of accelerating local production and consumption trends in the apparel and transportation industries, restructuring of the global sales system, and the impact of U.S. tariff policies, we are working to strengthen adaptability to change and establish a resilient manufacturing system.
